Massachusetts Financial Services Co. MA Boosts Holdings in Equity LifeStyle Properties, Inc. (NYSE:ELS)

Massachusetts Financial Services Co. MA boosted its holdings in shares of Equity LifeStyle Properties, Inc. (NYSE:ELS) by 5.0% during the second quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 3,218,638 shares of the real estate investment trust’s stock after buying an additional 153,715 shares during the quarter. Massachusetts Financial Services Co. MA owned 1.73% of Equity LifeStyle Properties worth $209,630,000 as of its most recent SEC filing.

A number of other hedge funds also recently added to or reduced their stakes in ELS. Johnson Investment Counsel Inc. raised its holdings in shares of Equity LifeStyle Properties by 0.6% in the 2nd quarter. Johnson Investment Counsel Inc. now owns 26,792 shares of the real estate investment trust’s stock valued at $1,745,000 after purchasing an additional 152 shares in the last quarter. Wellington Management Group LLP raised its holdings in shares of Equity LifeStyle Properties by 0.3% in the 4th quarter. Wellington Management Group LLP now owns 59,874 shares of the real estate investment trust’s stock valued at $4,224,000 after purchasing an additional 155 shares in the last quarter. LRI Investments LLC raised its holdings in shares of Equity LifeStyle Properties by 8.7% in the 2nd quarter. LRI Investments LLC now owns 2,132 shares of the real estate investment trust’s stock valued at $139,000 after purchasing an additional 171 shares in the last quarter. BI Asset Management Fondsmaeglerselskab A S raised its holdings in shares of Equity LifeStyle Properties by 4.7% in the 4th quarter. BI Asset Management Fondsmaeglerselskab A S now owns 3,920 shares of the real estate investment trust’s stock valued at $277,000 after purchasing an additional 177 shares in the last quarter. Finally, Naviter Wealth LLC raised its holdings in shares of Equity LifeStyle Properties by 1.6% in the 1st quarter. Naviter Wealth LLC now owns 12,404 shares of the real estate investment trust’s stock valued at $805,000 after purchasing an additional 192 shares in the last quarter. 97.21% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

ELS has been the topic of a number of analyst reports. Truist Financial raised their price objective on shares of Equity LifeStyle Properties from $65.00 to $70.00 and gave the company a “hold” rating in a report on Tuesday, July 30th. Royal Bank of Canada reiterated a “sector perform” rating and set a $68.00 price target on shares of Equity LifeStyle Properties in a research note on Wednesday, July 24th. Finally, Evercore ISI lifted their price target on shares of Equity LifeStyle Properties from $73.00 to $76.00 and gave the stock an “in-line” rating in a research note on Monday. Seven analysts have rated the stock with a hold rating and two have assigned a buy rating to the stock. According to data from MarketBeat, Equity LifeStyle Properties has an average rating of “Hold” and a consensus target price of $69.25.

Insider Activity

In other news, COO Patrick Waite sold 20,820 shares of Equity LifeStyle Properties stock in a transaction dated Friday, August 16th. The shares were sold at an average price of $70.23, for a total value of $1,462,188.60. Following the sale, the chief operating officer now owns 221,777 shares of the company’s stock, valued at $15,575,398.71. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. In other news, CEO Marguerite M. Nader sold 33,000 shares of Equity LifeStyle Properties stock in a transaction dated Monday, September 16th. The shares were sold at an average price of $75.52, for a total value of $2,492,160.00. Following the sale, the chief executive officer now owns 260,936 shares of the company’s stock, valued at $19,705,886.72. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, COO Patrick Waite sold 20,820 shares of the business’s stock in a transaction dated Friday, August 16th. The stock was sold at an average price of $70.23, for a total transaction of $1,462,188.60. Following the sale, the chief operating officer now directly owns 221,777 shares in the company, valued at approximately $15,575,398.71. The disclosure for this sale can be found here. Insiders own 1.40% of the company’s stock.

Equity LifeStyle Properties Trading Down 1.2 %

Shares of Equity LifeStyle Properties stock opened at $74.44 on Wednesday. Equity LifeStyle Properties, Inc. has a 1 year low of $59.82 and a 1 year high of $76.60. The company has a debt-to-equity ratio of 0.34, a quick ratio of 0.03 and a current ratio of 0.03. The company has a market capitalization of $13.88 billion, a P/E ratio of 40.68, a PEG ratio of 4.32 and a beta of 0.79. The company’s fifty day moving average is $70.31 and its two-hundred day moving average is $65.86.

Equity LifeStyle Properties (NYSE:ELS) last issued its quarterly earnings data on Monday, July 22nd. The real estate investment trust reported $0.42 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.65 by ($0.23). Equity LifeStyle Properties had a return on equity of 23.71% and a net margin of 23.56%. The business had revenue of $380.00 million for the quarter, compared to analysts’ expectations of $334.53 million. During the same period in the previous year, the business posted $0.66 earnings per share. The company’s revenue for the quarter was up 2.7% on a year-over-year basis. Analysts forecast that Equity LifeStyle Properties, Inc. will post 2.91 earnings per share for the current year.

Equity LifeStyle Properties Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, October 11th. Stockholders of record on Friday, September 27th will be issued a $0.4775 dividend. This is an increase from Equity LifeStyle Properties’s previous quarterly dividend of $0.48. The ex-dividend date of this dividend is Friday, September 27th. This represents a $1.91 annualized dividend and a dividend yield of 2.57%. Equity LifeStyle Properties’s payout ratio is presently 104.37%.

About Equity LifeStyle Properties

We are a self-administered, self-managed real estate investment trust (REIT) with headquarters in Chicago. As of January 29, 2024, we own or have an interest in 451 properties in 35 states and British Columbia consisting of 172,465 sites.